Research On The Legal System Of High Frequency Trading Supervision In My Country’s Futures Market

In the modern society with the continuous development of financial technology,the continuous combination of high-frequency trading and high-tech software.While high-frequency trading brings continuous economic benefits to high-frequency traders,our supervisory authorities need to strengthen understanding and regulation of emerging things for my country’s financial market has created a good development environment and rich soil for sustainable development.High-frequency trading first appeared in the United States,and subsequently developed in the European Union,Germany,Japan and other regions.It started late in my country and only appeared in my country’s financial market in the early20 th century.The "Ishton High Frequency Trading Case" suddenly appeared in the public eye in 2015,exposing the lack of high-frequency trading supervision laws and lack of market supervision measures in my country’s futures market,and more and more new types of trading strategies,such as latent arbitrage strategies.Bad high-frequency trading strategies,such as scam strategies,scam strategies,and trial order strategies,have to arouse widespread attention from market participants and regulators.The supervision of high-frequency trading is imminent and requires the joint efforts of market participants and regulators to form effective supervision.High-frequency trading can only be traded within the same day,and the trading time is relatively short,and the frequency of transactions is relatively frequent.The trading characteristics of the T+1 trading model in the securities market are more difficult to operate,and the T+0 trading model in the futures market is more likely to cause high-frequency trading.produce.my country’s futures market is an important market in the financial field.Its function of risk avoidance and price discovery meets the objective needs of social and economic development and is an important part of the market economy.The concept of governing the country according to law and governing the city according to law has been continuously deepened,and my country ’ s futures market is in a period of high-quality development.Combining the special trading rules and high risks of the futures market,it has been decided to use laws to regulate the normal operation of the futures market and supervise the futures market necessity.Comparing the development of the futures market with the progress of the rule of law in the futures,there is still a certain gap.Based on the special trading characteristics of high-frequency trading and the T+0 trading mode of my country’s futures market,in order to maintain the long-term stability of the financial market and the legitimate rights and interests of the majority of market participants,the legal supervision of high-frequency trading in my country’s futures market has become an unavoidable and urgent problem in the financial market.The United States,Germany,the European Union and other regions have relatively mature supervision of high-frequency trading.Through the summary and summary of foreign high-frequency trading supervision,combined with the current legislative and judicial status of high-frequency trading in my country ’ s futures market,we have summarized the high-frequency trading that is suitable for our country.Trading supervision experience,constantly advancing with the times,learning from each other,and providing a reasonable path choice for the supervision of high-frequency trading in my country’s futures market.The "Futures Law" legislation establishes the basic rules of high-frequency trading,formulates some supervision rules for high-frequency trading,establishes a situation of information sharing and coordinated supervision of various departments;clarifies the supervision scope and supervision responsibilities of the supervisory agency in the departmental regulations,and clarifies the abuse The identification standards of high-frequency trading behaviors,the identification of market manipulation behaviors in specific high-frequency trading;the establishment of strict market access rules,open supervision rules,and fair punishment and relief systems at the level of industry self-discipline rules,such as error cancellation system,civil compensation Specific regulatory measures,such as systems,pave the way for the positive effects of high-frequency trading on my country ’ s financial market,and also provide theoretical reference suggestions for my country’s supervision of high-frequency trading in the futures market.